We live in a world driven by a society that wants and demands discounts, coupons, buy-one-get-one, and countless other “freebies”. If someone can deliver this to them on a plate with a beautiful pink bow, it is EVEN better!… But wait… is it REALLY? As a business owner, I understand giving discounts and coupons is a great marketing strategy to bring in new clients.
But…What about your value? Do your have skills, experience and a genuine desire to serve your clients? Do you train your customers to ALWAYS accept your discounts and free products? When is the best time pull the plug on discounts? Discounts can DE-value…
One day my husband and I had a conversation about companies offering customers free or discounted high-end products and how society has changed after 9/11. If you remember the automobile industry at that time was basically giving away cars, or selling them at 0% interest so you could finally get YOUR DREAM car! Often the most expensive and valuable cars were sold at the lowest prices. Was it done out of desperation or a way to make you a loyal customer?
Recently, my husband started working for the English company, Burberry, which is known for its trench coats, scarfs, wool coats and high quality runway clothing line. His clients know and expect high quality merchandise along with the best service, being treated and pampered with a smile, champagne and undivided attention. When we got on the topic of VALUE… he said “Tatyana, I rarely see customers come into our store expecting deals or discounts. If we hosted a special event, then they knew it was the best time for them to purchase an item of their choice at the sale price… However, these events happen only twice a year. My VIP clients know what to expect and they know they will come back. Burberry has built its reputation all over the world as a luxury brand and customers know the benefits of having a Burberry coat or scarf. The company’s designers know its VALUE and the customer respects that value.”
When you go into a Burberry store, the first thing you will see are scarfs, purses and accessories. Great items to introduce us to something more spectacular! Their elegant sales professionals show confidence in their products. Good customer service makes the purchase extremely pleasant and beneficial for everyone involved. Once they are hooked on being treated like a queen or a king they return, even if they are buying a silk scarf for a friend. Customers might also refer a future VIP client, who would spend thousands of dollars. We must always make the best impression with our brand. Build your reputation, maintain it and always strive to improve all you do!
I agree that when we put a value on what we know, do and provide the BEST to our clients, they will VALUE our work, our relationships with them and love us enough to give us more business. I believe that we can give discounts, but ONLY when you can afford it and ONLY when it brings value to your services/products. That is why we must start with a smaller item that we can offer to clients and then guide them to make a bigger purchase. You will see that in any high fashion boutique.
If you give a discount, they ALREADY know the VALUE of what you have to offer. As customers, we must not demand free products or discounts from business owners. WHY? We take away their dreams, their value, their peace and something they have worked very hard to build. By doing so we steal our own joy and lose our identity and integrity. We must believe that we have a lot to offer with what we already know and that it can be a great starting point.
In summary I want to say, VALUE you and your talents. Do not think that because you do not have 20 years of business experience or you have not made millions yet, that you cannot start teaching, coaching and creating success, based upon your experience. You can do that by sharing your story, your vision, and your life experiences. People are waiting for it. Write a book, start a blog or start a video channel. Build yourself UP and then others will build YOU UP!
Tip: Charge for your knowledge, because then people will VALUE you.
Sincerely
Tatyana Gann
